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Thursday, October 20, 2011

WHAT IS THE 9-9-9 PLAN?

With the recent surge in the poll numbers for Presidential Candidate Herman Cain the attack dogs are pouncing on his taxation plan 9-9-9 like a pack of hungry wolves. While I think I like what Cain is talking about, I honestly did not know the details of his plan. I found an article today in the Wall Street Journal by noted economist Arthur B. Laffer to be an excellent and clear explanation of the details. Here is the link:

This is the kind of detailed information we cannot acquire in a 30 second sound-bite on the network newscasts or a 3 or 4 minute Q &A on cable news, so I found the article to be of value. You can decide if you like the plan and if you’re interested in Cain’s run for the White House.

It is my opinion that we desperately need a total reform of the tax code. I have found differing numbers, but the most reliable one I found says that the US Tax Code is an astounding 16,845 pages long!!! Who can possibly understand the intricacies of a document that length?

I do not think people making $250,000 a year are super-rich, especially if they live in major metropolitan areas where it is proven to be more expensive to live. However, I do believe that those fortunate enough to make $1 million or more per year should pay more taxes, and I firmly repeat that EVERYONE should pay something into the tax pot yearly.

I suggest we would all do better were there clear voices such as Cain’s in Washington, and if he does not get the big prize he could be a worthy candidate for Vice-Presidential consideration. What do you think?